SMB vs. VTES
Compare and contrast key facts about VanEck Short Muni ETF (SMB) and Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES).
SMB and VTES are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMB is a passively managed fund by VanEck that tracks the performance of the Bloomberg AMT-Free Short Continuous. It was launched on Feb 22, 2008. VTES is a passively managed fund by Vanguard that tracks the performance of the S&P 0-7 Yr National AMT-Free Municipal Bond Index - Benchmark TR Gross. It was launched on Mar 8, 2023. Both SMB and VTES are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SMB or VTES.
Key characteristics
| SMB | VTES | |
|---|---|---|
| YTD Return | 2.38% | 1.77% |
| 1Y Return | 4.50% | 4.46% |
| Sharpe Ratio | 1.97 | 2.87 |
| Sortino Ratio | 2.97 | 4.45 |
| Omega Ratio | 1.39 | 1.66 |
| Calmar Ratio | 1.08 | 3.75 |
| Martin Ratio | 14.30 | 12.01 |
| Ulcer Index | 0.30% | 0.37% |
| Daily Std Dev | 2.16% | 1.55% |
| Max Drawdown | -12.64% | -2.42% |
| Current Drawdown | -0.39% | -0.34% |
Correlation
The correlation between SMB and VTES is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
SMB vs. VTES - Performance Comparison
In the year-to-date period, SMB achieves a 2.38% return, which is significantly higher than VTES's 1.77% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SMB vs. VTES - Expense Ratio Comparison
SMB has a 0.20% expense ratio, which is higher than VTES's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
SMB vs. VTES - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Short Muni ETF (SMB) and Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
SMB vs. VTES - Dividend Comparison
SMB's dividend yield for the trailing twelve months is around 2.30%, less than VTES's 2.98% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMB VanEck Short Muni ETF | 2.30% | 1.84% | 1.32% | 1.25% | 1.51% | 1.58% | 1.49% | 1.24% | 1.13% | 1.14% | 1.21% | 1.37% |
VTES Vanguard Short-Term Tax-Exempt Bond ETF Shares | 2.98% | 2.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SMB vs. VTES - Drawdown Comparison
The maximum SMB drawdown since its inception was -12.64%, which is greater than VTES's maximum drawdown of -2.42%. Use the drawdown chart below to compare losses from any high point for SMB and VTES. For additional features, visit the drawdowns tool.
Volatility
SMB vs. VTES - Volatility Comparison
The current volatility for VanEck Short Muni ETF (SMB) is 0.60%, while Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES) has a volatility of 0.76%. This indicates that SMB experiences smaller price fluctuations and is considered to be less risky than VTES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.